June 2011. results

-4 pips
-4 %

I guess I killed eventually all wiggle room for my stops. I even disabled viewing of active trades and orders on my charts so I can't see red stop line and drag it further on a chart.

Sore loser

Very often being in a loss kick start state of mind in which I can't stand the loss. One thing is reality of that trade and another is feeling that overwhelm me. So even a small loss is practically impossible to take when I feel like that. I believe that I will not advance one bit in trading if I don't solve it, go through it, handle it. That unpleasant feeling, I can't really name it exactly, of being loser or being in a loss, is so unpleasant for me that I do anything just to avoid it, run from it, negate it. It's emotion that I didn't properly "learn" so I'm not able to handle it. There is not any other solution then learning how to lose, accepting a loss. Currently that's out of my reach.

-40 pips

Tricky day

I was in mood for big moves, not really scalping oriented. So at first I went against market direction. I was marginally ahead after fifth trade so I made next one because there was slight possibility of stronger move based on it's force. It didn't proceed to highs but failed.

-4 pips

Quick one

It looked like something is going on, so it was worth to enter at whatever price because it could get very strong and shot up strongly. It stopped at previous highs instead of accelerate with taking out stops.

+15 pips

Vulnerability

I'm so vulnerable to my own emotional pitfalls that it's so hard to advance. It's so frustrating because in general my trading isn't that bad. Like today I had three stop loss exits in timely manner, except last trade. Then it's so irrational to stay in it from minute to minute. I all know it, and to be honest at those moments I really don't know what I want with that trade, when I'm in bigger then allowed loss. What do I want with that -50 pips trade I can't answer. Where is exit, where is cut loss?
It seems to me that those problems can't be easily corrected with some new rule. In the end I just don't follow it and I can't correct my own personality with rules. I guess that I have to first correct myself, whichever that means, then it will be reflected in my trading.
So I had +23 pips for a day before that last trade and my own personal meltdown.

-9 pips

Early bird catches the worm

First trade was regretful getting sucked in at worst level. Next trade and move woke up volatility. I scalped satisfactory, being very quick on exits that don't work in my favor.

As you can see I changed the rule about five trades a day. Not today in the middle of trading but before. It was negative stressful and I decided that I don't have to stick to it if things are working in my favor. When not, then five trades a day are still valid. Also that 15 pips max tp rule isn't that great for me. I have it set up automatically at that level when I enter the trade, but I will make it larger if necessary. I stayed with entering at 99% of margin available, it's good to remove focus from size that I use. Now when size is different on each trade it's kind of irelevant information for my psychological setup.

+35 pips